Family Dollar has announced that its CEO is stepping down after the acquisition and integration of the company with Dollar Tree. Howard Levine will officially step down on January 15.
On July 6, 2015, Dollar Tree completed its acquisition of Family Dollar, including more than 8,200 stores across 46 states. As per the merger agreement, Levine remained with the combined enterprise to assist with the integration, reporting to Dollar Tree CEO Bob Sasser.
Gary Philbin, named Family Dollar president and CEO in July, will continue leading that business, reporting to Sasser.
“It was very important to me for Howard to remain with our company and to contribute to the combination of our two large organizations,” Sasser stated. “He has been an integral leader at Family Dollar for more than two decades and has accumulated a tremendous amount of knowledge and experience. I would like to commend Howard for his many years of service and leadership at Family Dollar, and to thank him for his partnership during our integration.”